Welcome to our April 2019 version of the Louisville real estate report. Here at LouisvilleHomesBlog.com, we boast the best analysis of local real estate in the city! And, of course, it’s all completely free. If you’d like Louisville’s real estate expert as your personal Realtor, please contact me. I’d love to help you with your transaction.
Now, onto the stats!
For the month of April, there were just 953 properties sold. This is a fairly large decline—11.5 percent—from last April. For the year, we’re down 362 units. As we’ve discussed for months, the housing inventory shortage is largely to blame. This is especially true at the lower end of the price spectrum.
Checking out the situation of home prices, for the month of April 2019, the median home sale price was $179,000. This is up from the April 2018 value of $175,000.
Comparing averages, we actually have a decline, which is highly unusual. The average price of homes sold last month was $214,501. This time last year, the value was $219,982. Here in Louisville, real estate is really slowing down. big!
Areas that are largely comprised of lower-priced homes are seeing higher gains. Areas, where homes are above $500,000, are seeing prices stagnate. Clearly, most of the demand coming from Louisville home buyers is highly focused on the lower priced properties.
Interest rates actually dipped recently, after all the experts claimed they would move higher. Eventually, they will. We’re just not there yet.
April 2019 Louisville Real Estate Analysis
Our city is divided into smaller MLS areas that also give you a snapshot that part of the city. Here’s a link to the Louisville MLS areas map. Below are the MLS areas we update each and every month.
Home sale prices took a big dip in Area 2 during April after seeing solid increases the previous two months. Then sales dropped as well. It doesn’t look like 2019 will be able to keep pace.
Things are slightly better here in Area 3 where at least the prices are slowing improving after a strangely strong winter.
Home sale prices are rising steadily. There’s not enough inventory for sales to keep up but there’s a great deal of new construction in Area 6 focused on the low end of the Louisville real estate market.
It’s about time that prices are rebounding. Watching that trend-line decline was making me sad. The goal is slow and steady growth.
Area 8 came the closest trying to match the previous year. It just nearly won too! Prices here are all over the board. And it’s not like this is a tiny sample size either.
Decent sales numbers for Prospect and its surrounding areas. Home prices moving higher too, and they need to as the trend was starting to decline.
Prices good. Sales bad. Not much more to add as the picture tells the whole story.
Home sales in South Oldham County didn’t drop nearly as bad as they did north of I71 but they we don’t see the corresponding price gains. They came close though. But look at how the trend-line is roughly in the same spot today as it was a year ago.
Quarterly Housing Reports MLS Areas
All of the quarterly Louisville real estate reports are now completed thru the end of the year. Check out the links below or find them all in the drop-down menu at the top of each page.
- Central Downtown District, Old Louisville – Area 0
- Downtown, Old Louisville, West Louisville – Area 1
- Pleasure Ridge, Valley Station, Shively – Area 4
- Auburndale, Fairdale, Iroquois Park, Shively Homes – Area 5
- Bullitt County – Area 11
- Spencer County – Area 19
- Shelby County – Area 30
If you want to know “What is my Louisville home worth?” Please contact me. I’m always happy to help!